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Dec 24, 2012
12/12
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the big worries about the fiscal cliff and how that's going to affect the economy as a whole. you look at oil prices and they have barely moved since late october. oil prices are between $85 to $90 a barrel since late october. and when oil prices stabilize for a longer time, as they have been, it gives gas prices a better chance to stabilize as well. but you look at it broadly, though, the gas prices are not falling for the the right reason. we could go back into a recession and it's those concerns for a downturn in the economy that are actually pushing prices lower. >> all right. alison kosik, live from the new york stock exchange. thank you as always. >>> the head of the national rifle association says to call him crazy for proposing more guns in schools. the nra's ceo wayne lapierre insists a ban on assault weapons won't prevent mass killings, which he blames on violent video games and the media. he says armed guns eed guards are the best way to prevent tragedies. >> if it's crazy to call for putting police and armed security in our school to protect our children, then call
the big worries about the fiscal cliff and how that's going to affect the economy as a whole. you look at oil prices and they have barely moved since late october. oil prices are between $85 to $90 a barrel since late october. and when oil prices stabilize for a longer time, as they have been, it gives gas prices a better chance to stabilize as well. but you look at it broadly, though, the gas prices are not falling for the the right reason. we could go back into a recession and it's those...
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Nov 29, 2012
11/12
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of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you, mr. speaker. >> speaker boehner speaking to the press outside of the offices on capitol hill. not really yielding any information, though. the intransigence it seems on both sides continues. but it definitely continues to sound like a campaign on both sides, as well. just a couple highlights for you. the speaker saying the democrats can't seem to come to any kind of decision o
of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by...
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Sep 15, 2012
09/12
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. >>> your congress is about to send you over a fiscal cliff. your economy is not creating enough jobs to keep up with a growing population, and every man, woman and child in america now owes more than $50,000 for their sharef
. >>> your congress is about to send you over a fiscal cliff. your economy is not creating enough jobs to keep up with a growing population, and every man, woman and child in america now owes more than $50,000 for their sharef
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Nov 9, 2012
11/12
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economy plunging back into recession. we're talking about the so-called fiscal cliff. it is a combination of automatic spending cuts to the tune of $1.2 trillion over the next ten years and tax increases for 90% of americans. we're going to hear from the president shortly about the economy and the fiscal cliff. he is scheduled to speak at 1:05 eastern. we're going bring you the remarks live, of course, but right now correspondents here for pregame analysis. we've got ali velshi and christine romans in the house, our money team. we have wolf blitzer and chief political analyst claire borger in washington, and jessica yellin. she is actually at the white house making her way into the east room where she is going to be covering that statement. wolf, i want to start off with you. this event in the east room, there will be middle class foilgs behind him. these are the folks that would be impacted by a tax increase. he is notts taking any questions. they already won. this is not a campaign event here. if this is really about governing, why do you think we are seeing this kin
economy plunging back into recession. we're talking about the so-called fiscal cliff. it is a combination of automatic spending cuts to the tune of $1.2 trillion over the next ten years and tax increases for 90% of americans. we're going to hear from the president shortly about the economy and the fiscal cliff. he is scheduled to speak at 1:05 eastern. we're going bring you the remarks live, of course, but right now correspondents here for pregame analysis. we've got ali velshi and christine...
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Nov 14, 2012
11/12
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economy if we do go over that fiscal cliff and see the massive spending cuts and massive tax hikes. he's worried about it. don't get me wrong. he's not as alarmist as many. take a listen. what is the likelihood of the united states falling into a recession if we go over the cliff? >> i don't think that's going to happen. i think that if we go past january 1st i don't know whether it will be january 10th or february 1st, but we are not going to permanently cripple ourselves because 535 people can't get along. >> even if we go over for two months, does that dip this economy back into recession? >> i don't think so. >> you don't think so. that's interesting because the cbo believes that that -- >> yeah, well, we had hurricane sandy, which disrupted the economy for a period . we had katrina. we'll have things that will disrupt the economy. 9/11 was an extraordinary case. we have a i havery resilient economy. the fact that they can't get along for the month of january is not going to torpedo the economy. >> reporter: and, fredricka, i also talked to him about that meeting that the presid
economy if we do go over that fiscal cliff and see the massive spending cuts and massive tax hikes. he's worried about it. don't get me wrong. he's not as alarmist as many. take a listen. what is the likelihood of the united states falling into a recession if we go over the cliff? >> i don't think that's going to happen. i think that if we go past january 1st i don't know whether it will be january 10th or february 1st, but we are not going to permanently cripple ourselves because 535...
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Nov 16, 2012
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. >>> we're just 46 days away from reaching the dreaded fiscal cliff that i'm sure dana will be reporting on as well. even if a deal is reached, will it take a recession to get our economy back on track? that's what one leading economist says. alan greenspan talks to our ali velshi. that's next. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. [ male announcer ] you build a reputation by not breaking down. consider the silverado 1500 -- still the most dependable, longest-lasting full-size pickups on the road. and now we've also been recognized for lowest total cost of ownership -- based on important things, like depreciation, fuel, and maintenance costs. and now trade up to get a 2012 chevy silverado all-star edition with a total value of $9,000. from outstanding value to standing the test of time, chevy runs deep. >>> it is game on for fiscal clif
. >>> we're just 46 days away from reaching the dreaded fiscal cliff that i'm sure dana will be reporting on as well. even if a deal is reached, will it take a recession to get our economy back on track? that's what one leading economist says. alan greenspan talks to our ali velshi. that's next. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if...
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let's agree to drive our economy off part of the fiscal cliff instead of driving it off the whole fiscal cliff and we'll call it a day. that might get us out of town, but it won't get us out of the problem and it will also hurt our economy. we can't keep going on like that, and we can't keep setting the bar that low. it is time that we raise the bar. the american people this week didn't give us a mandate to simply do the simple thing, they elected us to lead. they gave us a mandate to work together to do the best for our country, and we know what the best thing to do would be, that would be an agreement to send a signal to the economy and the world that after years of punting on the major fiscal challenges that we face, 2013 is going to be different. it would be in agreement that begins to pave the way for long-term growth that is essential. if we want to lift the cloud of debt that is hanging over our country. we all solve the problem of our fiscal imbalance overnight and certainly won't do it in a lame duck session of congress. and it won't be solved by raising taxes or taking a plunge
let's agree to drive our economy off part of the fiscal cliff instead of driving it off the whole fiscal cliff and we'll call it a day. that might get us out of town, but it won't get us out of the problem and it will also hurt our economy. we can't keep going on like that, and we can't keep setting the bar that low. it is time that we raise the bar. the american people this week didn't give us a mandate to simply do the simple thing, they elected us to lead. they gave us a mandate to work...
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Nov 20, 2012
11/12
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joining us to talk to about the fiscal cliff what it could mean for the economy if it plunges over the cliff, mark zandi. mark explain to us, there's a lot of optimism here. but what would happen if they didn't come up with an agreement? what would be the impact of the economy immediately? >> well, you know, i don't think it's a wily coyote moment. january 1 the economy would be okay. with each passing day we don't get a deal, angst would rise, stock market would decline. fiscal cliff is the wrong word it's a fiscal slope, it's going to take some time before it starts to do damage. it's not like on january 1st that things are going to fall apart. it's going to take a few days, weeks before that were to happen. but if they don't reach an agreement, ultimately they fail to reach an agreement it would be a big problem. we'd go into recession. >> and when you talk about recession, how do you define that? groups think unemployment rate could hit almost 10%. >> yeah, that's reasonable. so, if you look at the congressional budget office, this is the nonpartisan group that does a lot of the bu
joining us to talk to about the fiscal cliff what it could mean for the economy if it plunges over the cliff, mark zandi. mark explain to us, there's a lot of optimism here. but what would happen if they didn't come up with an agreement? what would be the impact of the economy immediately? >> well, you know, i don't think it's a wily coyote moment. january 1 the economy would be okay. with each passing day we don't get a deal, angst would rise, stock market would decline. fiscal cliff is...
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Dec 12, 2012
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the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are lacplaced in jeopardy. >> well, they talk and we all listen and then we decide who we appreciate more. it's in the form of a poll who is handling these negotiations better. the latest abc news "washington post" poll says 49% of americans think president obama is doing a better job of all of this, while only 25% say they approve of speaker boehner's efforts. those aren't the numbers you want to see if you're the speaker right now. our senior congressional correspondent dana bash has been working her sources throughout the morning, joining me live now from washington. one of the things i see, dana, that's so frustrating, is we get a lot of rhetoric on television and we hear later about secret conversations. i just wonder how much rhetoric is going on behind closed doors or if they're really getting closer. >> reporter: well, you just mentioned there was a monphone l between the speaker and the president, and by all accounts, it really did not go well. i'm
the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are lacplaced in jeopardy. >> well, they talk and we all listen and then we decide who we appreciate more. it's in the form of a poll who is handling these negotiations better. the latest abc news "washington post" poll says 49% of americans think president obama is doing a better job of all of this, while only 25% say they approve of speaker...
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May 23, 2012
05/12
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. >>> first the fed chairman warns the economy is going to fall off what he calls a fiscal cliff down the road. now there is a warning that we are headed to another recession unless congress changes direction. it's juicy. it's tender. it seems like it just melts in my mouth. that's a nice steak. only one in five steaks is good enough to be called walmart choice premium beef. you are eating walmart steaks. really? this is fabulous. the steak is excellent. i'm gonna go to walmart and bring it here. [ laughter ] walmart choice premium steak. try it, tell us what you think on facebook. by the way, it's 100% money back guaranteed. [ male announcer ] aggressive styling. a more fuel-efficient turbocharged engine. and a completely redesigned interior. ♪ the 2012 c-class with over 2,000 refinements. it's amazing...inside and out. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. is important to any successful business. which is why at wells fargo, we work with you to get to know the unique aspects of your business. we can recommend fina
. >>> first the fed chairman warns the economy is going to fall off what he calls a fiscal cliff down the road. now there is a warning that we are headed to another recession unless congress changes direction. it's juicy. it's tender. it seems like it just melts in my mouth. that's a nice steak. only one in five steaks is good enough to be called walmart choice premium beef. you are eating walmart steaks. really? this is fabulous. the steak is excellent. i'm gonna go to walmart and...
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Nov 29, 2012
11/12
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economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven recessions in three of them, jobs continued to grow in to the recession. >> his group bases this on four economic indicators. let me show you. industrial production, that's all the stuff, top left, all the stuff made in the u.s. personal income, you know what that is, sales and employment. look at those lines. based on official government data this year they show a drop off in three of the four indicators starting in july. only employment is steady. that's july. that means we're in a recession right now. may sound obvious to some of you or ridiculous to others but when it comes to determining recessions, few have a better track record than ecri. back in 2001, the group predicted a recession when the vast majority of economists said i
economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven recessions in three of them, jobs continued to grow in to the recession. >> his group bases this on four economic indicators. let me...
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Sep 14, 2012
09/12
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congress can help with that, though, by acting to back off the country off of a fiscal cliff we keep talking about and getting the debt under control. stimulus would be a lot more likely to work if businesses have a clear idea of what lies ahead. don't expect any clarity until after the election. >>> response to that anti-muslim film. how can the united states help to secure the region? we'll look into what can be done. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want
congress can help with that, though, by acting to back off the country off of a fiscal cliff we keep talking about and getting the debt under control. stimulus would be a lot more likely to work if businesses have a clear idea of what lies ahead. don't expect any clarity until after the election. >>> response to that anti-muslim film. how can the united states help to secure the region? we'll look into what can be done. [ male announcer ] how can power consumption in china, impact wool...
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Jul 21, 2012
07/12
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economists now say that the so-called fiscal cliff has now overtaken europe as the biggest threat to the u.s. economy. in other words, our homegrown storm has a bigger chance of causing a hurricane here than the actual hurricane that's blowing our way from europe. now i've been bee rat berating on this show to head off a series of tax increases and spending cuts mandated to take effect on january 1st. congress couldn't come up with a better deal to raise the nation's debt limit last year. i am not alone in my calls. the federal reserve chairman and the international monetary fund are warning congress to act before it's too late. if you get hit by another recession, you'll join me in pointing my finger directly at the political partisanship that is poisoned your path to economic stability and prosperity. now if i were a politician, i would not want to be party to anng
economists now say that the so-called fiscal cliff has now overtaken europe as the biggest threat to the u.s. economy. in other words, our homegrown storm has a bigger chance of causing a hurricane here than the actual hurricane that's blowing our way from europe. now i've been bee rat berating on this show to head off a series of tax increases and spending cuts mandated to take effect on january 1st. congress couldn't come up with a better deal to raise the nation's debt limit last year. i am...
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Jul 28, 2012
07/12
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. >> the fiscal cliff threatens the economy, your wallet, and even your job. unless washington wakes up, you are just 156 days from going over it. i am christine romans. unless congress acts, your taxes will go up on january 1st. the white house says 114 million families will see taxes rise by an average of $1600 in and massive cuts and they failed to agree on a deficit reduction plan and triggered automatic spending cuts known as sequestration. they happen on january 2nd. it is $1 trillion in cuts over nine years split evenly between defense and non-defense programs. the bipartisan policy center estimates sequestration of defense will mean cuts of 15% next year. every non-defense agency faces a 12% cut and that means job losses from doctors, teachers, border patrol agents and government contractors. anywhere from 1 million to 3 million jobs will be lost. california, virginia, texas, washington, d.c., maryland, would each lose more than 100,000 jobs. the bottom line here, this is the manifestation of your elected officials not doing their jobs. they don't see
. >> the fiscal cliff threatens the economy, your wallet, and even your job. unless washington wakes up, you are just 156 days from going over it. i am christine romans. unless congress acts, your taxes will go up on january 1st. the white house says 114 million families will see taxes rise by an average of $1600 in and massive cuts and they failed to agree on a deficit reduction plan and triggered automatic spending cuts known as sequestration. they happen on january 2nd. it is $1...
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Nov 9, 2012
11/12
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the overall american economy does, too. let's talk about what the fiscal cliff is. starting in the beginning of the year because of a deal the congress did last year to raise the debt ceilings, all these things will go into play at the same time, big spending cuts, bush tax cuts expire, minimum tax cut goes away, payroll tax holiday goes away, unemployment benefits extension. whole bunch of things. middle income households making, say, $50,000 a year would see their tax bill rise $2,000. $2,000 for the year. immediately your paycheck, you would notice a change there o r overall, certainly in what you pay when you pay your taxes. this is the spending part of it. 8% to 10% cuts in budgets for everything you could think of, from the fda, centers to disease control, education, border patrol, cdc director has said this. 8% to 10% reduction will risk costy and deadly spread of disease and failures to prevent tragic and expensive health problems. yeah. this is something that really matters. a math problem between democrats and republicans is something that matters to every
the overall american economy does, too. let's talk about what the fiscal cliff is. starting in the beginning of the year because of a deal the congress did last year to raise the debt ceilings, all these things will go into play at the same time, big spending cuts, bush tax cuts expire, minimum tax cut goes away, payroll tax holiday goes away, unemployment benefits extension. whole bunch of things. middle income households making, say, $50,000 a year would see their tax bill rise $2,000. $2,000...
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Oct 15, 2012
10/12
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if we get rid of the uncertainties for the fiscal cliff, that will be helpful as well. the other thing i think is important, the u.s. is actually becoming really competitive relative to the rest of the world because of what is happening in terms of our energy markets, production of natural gas and oil has increased dramatically. the cost of electricity has been falling. >> which helps in the united states. >> this is a very competitive place to set up manufacturing activity. i think that's going to be another thing that's going to help us. >> and, brooke, that's an important point there that as we have more energy discovered in the united states, particularly natural gas, which can be used for electricity production, a stable low cost of electricity is available to u.s. manufacturers which could bring down the cost of building things in the united states, and that's what some economists are looking for as one of the drivers of the economy in the next few years. housing is another one. doing infrastructure building and repair is another one. so he had some sense of what
if we get rid of the uncertainties for the fiscal cliff, that will be helpful as well. the other thing i think is important, the u.s. is actually becoming really competitive relative to the rest of the world because of what is happening in terms of our energy markets, production of natural gas and oil has increased dramatically. the cost of electricity has been falling. >> which helps in the united states. >> this is a very competitive place to set up manufacturing activity. i think...
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also there's a lot of uncertainty involving the fiscal cliff. what are tax policies going to look like as of january 1? that scent give businesses much incentive either. the discussion after the fed made this move, the discussion is still going to turn to congress and whether or not congress will act on this fiscal cliff. >> thank you. >>> president obama and mitt romney say they have plans to shrink the u.s. debt, but there are problems with both the plans. we have details up next. >>> hey there, everyone. today on the help desk we're talking about the best way to tackle your credit card debt. a lot of people have this issue. joining me this hour, donna rosato and ronald mack. donna, this woman told me she has $4,000 in debt. >> if you've got multiple credit cards, you know, what's the best way to work out a plan where you can pay it off? >> yeah, i think she's wondering which do i pay off first? >> that's right. well, there are two schools of thought on this. generally it's better to focus on the highest rate card and pay that down as quickly
also there's a lot of uncertainty involving the fiscal cliff. what are tax policies going to look like as of january 1? that scent give businesses much incentive either. the discussion after the fed made this move, the discussion is still going to turn to congress and whether or not congress will act on this fiscal cliff. >> thank you. >>> president obama and mitt romney say they have plans to shrink the u.s. debt, but there are problems with both the plans. we have details up...
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. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local walgreens. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. home of the legendary grand prix circuit. the perfect place to bring the all-new cadillac ats to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3
. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations....
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Dec 4, 2012
12/12
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in going over the fiscal cliff. i don't think that's sustainable. i don't think people fully understand, what the president is saying is 100% of american families and small businesses get continued tax relief on their first $250,000 in income, and on the income above that amount, higher income people would be paying the same rates they did during the clinton administration, which is four more cents on the dollar. and, again, i don't think that's at all unreasonable. the president talked about this at length during the presidential campaign, and i believe -- i think people like tom cole, a conservative republican in oklahoma had it right when he warned his colleagues they would look totally obstructionist if they allowed that to happen. >> congressman, also included in the president's plan was that $200 billion in new stimulus measures. mention the word stimulus to republicans, and, well, they're not too happy with that word. so why do that? why deliberately like -- it seems like it was a deliberate poke in the side.
in going over the fiscal cliff. i don't think that's sustainable. i don't think people fully understand, what the president is saying is 100% of american families and small businesses get continued tax relief on their first $250,000 in income, and on the income above that amount, higher income people would be paying the same rates they did during the clinton administration, which is four more cents on the dollar. and, again, i don't think that's at all unreasonable. the president talked about...
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Nov 16, 2012
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the president is talking with lawmakers about the fiscal cliff and meeting with top party members from the house and senate and spoke about the meeting moments ago. >> we have to make sure taxes don't go up on middle class families and the economy remains strong and we're creating jobs and that's an agenda that democrats and republicans and independents people all across the country share. our challenge is to make sure that we are able to cooperate together, work together, find common ground and make tough compromises and build consensus to do the people's business. >> the meeting under way right now by the way. superstorm sandy's damage didn't have to be so bad. we'll look at why so many people lost power and what could be done to prevent a crisis again. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouffer's. what if there was a new that focused less on feesy and more... on what matters? maybe your bank account is taking too much time and maybe it's cost
the president is talking with lawmakers about the fiscal cliff and meeting with top party members from the house and senate and spoke about the meeting moments ago. >> we have to make sure taxes don't go up on middle class families and the economy remains strong and we're creating jobs and that's an agenda that democrats and republicans and independents people all across the country share. our challenge is to make sure that we are able to cooperate together, work together, find common...
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Oct 23, 2012
10/12
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it is the fiscal cliff fear effect, i imagine. you're in florida. you're going to be going up the east coast here talking to voters in the swing states. how is this playing for folks in florida today? have you talked to them? >> in florida today, we think of this as a pledge for 29 electoral college votes. i've run nainto a lot of people. everybody who is a conservative, liberal, republican or democrat, probably made up their mind. the people who haven't made up their mind are those who say i need to know which one of these guys is going to be better for either my future or the country's future and they're not satisfied with all of the answers they're getting. what they're getting from romney and obama are visions of what the future can look like. with respect to the sequester, they don't get a budget deal or the fiscal cliff, which will cause companies to lay people off, put less money in people's pockets, there is a lot of uncertainty. they want to know which one of these guys is going to get it done. the way i look at it is you see some economic
it is the fiscal cliff fear effect, i imagine. you're in florida. you're going to be going up the east coast here talking to voters in the swing states. how is this playing for folks in florida today? have you talked to them? >> in florida today, we think of this as a pledge for 29 electoral college votes. i've run nainto a lot of people. everybody who is a conservative, liberal, republican or democrat, probably made up their mind. the people who haven't made up their mind are those who...
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Nov 14, 2012
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he will try to pivot to the economy and to talk about the fiscal cliff, which is obviously his number one priority trying to get that resolved, and we also expect that he will be here talking -- or he will be asked about benghazi. this will be his first press conference since that september 11th attack in egypt that killed u.s. ambassador chris stevens and three other americans. as well, would you expect them to be asked about cabinet -- or, pardon me -- in libya, and you would expect him to be asked about the cab -- potential cabinet shake-ups as well. you said he hasn't had an extended press conference since march. that's true. there are a lot of outstanding questions, and he will be asked probably about all of them today, suzanne. >> imagine it's going to be taking a while to get through all of these, and the priorities -- i mean, you're right. he hasn't really faced the press for a lot of those tough questions in a long time. do we think that now entering a second administration he is going to feel more comfortable in taking questions from the press corps, or is he going to take a
he will try to pivot to the economy and to talk about the fiscal cliff, which is obviously his number one priority trying to get that resolved, and we also expect that he will be here talking -- or he will be asked about benghazi. this will be his first press conference since that september 11th attack in egypt that killed u.s. ambassador chris stevens and three other americans. as well, would you expect them to be asked about cabinet -- or, pardon me -- in libya, and you would expect him to be...
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Oct 2, 2012
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we're talking about the dreaded fiscal cliff. economists think it's the most serious risk facing our economy and your taxes can go up thousands of dollars. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. in fact, by thinking about where you want your education to lead, while you're still in school, you might find the best route leads somewhere you weren't even looking. let's get to work. starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. >> time running out for congress and the president to reach a budget deal. if they don't we could come what's called the fiscal cliff that could cost thousands of dollars in tax increase because a slew of temporary tax cuts are due to expire in january. alison kosik is here to talk a little bit what folks on wall street are calling a major threat to the economy. why do they say that? >> reporter: it
we're talking about the dreaded fiscal cliff. economists think it's the most serious risk facing our economy and your taxes can go up thousands of dollars. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. in fact, by thinking about where you want your education to lead, while you're still in school, you might find the best route leads somewhere you weren't even looking. let's get to work. starts with arthritis pain and a choice....
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Nov 7, 2012
11/12
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economy will, no doubt, go into a recession if we go off this fiscal cliff. this is a combination of huge federal spending cuts and tax increases that all go into effect together. at the beginning of the year, unless congress does something. the problem is it would happen all at once. that sucks trillions out of the economy. it would shock the economy. it includes $55 billion in defense spending cuts. another $55 billion in nondefense. i am talking everything from education to food inspection funding to air traffic safety. and then there's the tax increases because tax cuts will expire like the bush tax cuts, payroll tax holiday. all of that would go away. then there's more. there's that whole slew of tax credits or take a hit like the child tax credit, that would get cut in half. credits for higher education, those will expire altogether. so all this will happen unless, unless congress and the president can get their act together and stop it all from happening. suzanne? >> that's why there's so much pressure right now to see what both sides are going to do.
economy will, no doubt, go into a recession if we go off this fiscal cliff. this is a combination of huge federal spending cuts and tax increases that all go into effect together. at the beginning of the year, unless congress does something. the problem is it would happen all at once. that sucks trillions out of the economy. it would shock the economy. it includes $55 billion in defense spending cuts. another $55 billion in nondefense. i am talking everything from education to food inspection...
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Sep 9, 2012
09/12
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but perhaps the biggest challenge, the so-called fiscal cliff, a series of tax increases and spending cuts that experts warn taken together could plunge the economy back into recession. >> they'll have four weeks after the election to deal with some of the largest tax increases and spending cuts that the country has ever seen at one time. >> $110 billion in cuts to everything from defense to education to food inspections next year alone will take effect in january unless lawmakers reach agreement on reducing the deficit. one problem -- republicans and democrats disagree on the bush tax cuts due to expire the end of this year. republicans want them extended for everyone. gl americans know what works. low taxes reasonable regulations, and living within our means. >> reporter: democrats led by president obama support extending them just for people making less than $200,000 a year. >> i don't believe and you don't believe that another round of tax breaks for millionaires is going to bring good jobs back to our shores or pay down or deficit. >> reporter: uncertainty about just what congres
but perhaps the biggest challenge, the so-called fiscal cliff, a series of tax increases and spending cuts that experts warn taken together could plunge the economy back into recession. >> they'll have four weeks after the election to deal with some of the largest tax increases and spending cuts that the country has ever seen at one time. >> $110 billion in cuts to everything from defense to education to food inspections next year alone will take effect in january unless lawmakers...
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Dec 24, 2012
12/12
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this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up fo
this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans...
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Nov 29, 2012
11/12
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the fiscal cliff is going to have a huge impact on the economy. in fact, a big european economic group this week dialed back its estimates for u.s. economic growth this year. and other economists are warning that things may not be so rosie, partly because of concerns about the cliff. now, businesses are already cutting back, even though corporate profits are up. and when you look at today's report, here's the interesting part, carol. government spending, federal government spending is a huge reason why the economy grew in q3. it rose 9.5%. but here's the thing. if you slash that government spending, if and when the fiscal cliff goes into effect, that can really eat into gdp and is part of the reason the congressional budget office has said if we do go over the cliff, the u.s. could go back into a recession. carol? >> alison kosik at the new york stock exchange. >>> well, someone is waking up this morning as a multimillionaire. winning tickets for the powerball's record-breaking $580 million jackpot were sold in arizona and missouri. last night's w
the fiscal cliff is going to have a huge impact on the economy. in fact, a big european economic group this week dialed back its estimates for u.s. economic growth this year. and other economists are warning that things may not be so rosie, partly because of concerns about the cliff. now, businesses are already cutting back, even though corporate profits are up. and when you look at today's report, here's the interesting part, carol. government spending, federal government spending is a huge...
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Dec 5, 2012
12/12
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toward a fiscal cliff. republicans offered president obama a proposal that retained the bush tax cuts for the wealthy, and now they say the ball is in the president's court. >> this week we made a good faith offer to avert the fiscal crisis. now we need a response from the white house. we can't sit here and negotiate with ourselves. >> both sides promise to cut trillions from government spending over the next decade, but the republicans insist they can do it without raising taxes on the rich. president obama insists that's a nonstarter. he shared his message with rich folks at the business round table. he told them they could handle paying more in taxes. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that will affect your spending, your lifestyles, or the economy in any significant way. >> business round table is a lobby group made up of some of the country's biggest ceos, ceos of some of the country's bigg gt companies. if you don't know what the fisc
toward a fiscal cliff. republicans offered president obama a proposal that retained the bush tax cuts for the wealthy, and now they say the ball is in the president's court. >> this week we made a good faith offer to avert the fiscal crisis. now we need a response from the white house. we can't sit here and negotiate with ourselves. >> both sides promise to cut trillions from government spending over the next decade, but the republicans insist they can do it without raising taxes on...
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Nov 30, 2012
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of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy these ve
of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even...
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Dec 11, 2012
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the longer the white house walks the process, the closer our economy gets to the fiscal cliff. >> what i would do to respond to what the speaker has said, though, is to set the record straight. the fact is that the president has and democrats agree with him, agreed to over $1.5 trillion, $1.6 trillion in cuts and the budget control act and other acts of congress in this -- in this particular congress. $1.6 trillion in cuts. where are the cuts? they're in bills that you, mr. speaker, have voted for. >> so it all comes down to tax revenues and spending cuts. tom foreman gives us a virtual view of what is involved in negotiations. watch. >> what you're looking at in the room is everything the federal government spends money on. and that scoreboard back there shows you the problem. last year we spent $3.6 trillion in all of the stuff. but we only took in 2.3 trillion in taxes or revenue. democrats talk in the talks about the revenue side of the equation. they say if we can find a way to gin up more taxes lean on the rich harder, that's how we can dole with the deficit. republicans agreeing
the longer the white house walks the process, the closer our economy gets to the fiscal cliff. >> what i would do to respond to what the speaker has said, though, is to set the record straight. the fact is that the president has and democrats agree with him, agreed to over $1.5 trillion, $1.6 trillion in cuts and the budget control act and other acts of congress in this -- in this particular congress. $1.6 trillion in cuts. where are the cuts? they're in bills that you, mr. speaker, have...
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Nov 19, 2012
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fiscal cliff. senator olympia snow hopes this time the president and congress find common ground. we'll talk with this republican moderate leader as she prepares to leave the senate next. this is cmn newsroom, and it's happening now. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye
fiscal cliff. senator olympia snow hopes this time the president and congress find common ground. we'll talk with this republican moderate leader as she prepares to leave the senate next. this is cmn newsroom, and it's happening now. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the...
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Nov 27, 2012
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according to the oecd the world economy risk, suzanne, is because of the fiscal cliff in the united states, the cliched phrase, and the european sovereign debt crisis. >> what if it doesn't happen? what if they reach some sort of deal between the president and congress, don't go over the fiscal cliff? could those numbers change? could it be a better economic picture all around? >> yes, absolutely. because a lot of what's factored into the forecasts, not so much with the cliff but also with the other forecasts, is how they -- the consumer confidence effect. we've had consumer confidence numbers in the u.s. today, we've seen the numbers for the thanksgiving black friday and cybermonday. we're starting to see how things are projecting simply on the prospect of what might happen. yes, things could get better if they solve problems. i don't want to be the complete -- you must remember, no one's talking about solving the problems at moment. people are talking about preventing the worst from happening. there is a huge gap between one and the other. >> and tell us about obviously the fiscal cliff
according to the oecd the world economy risk, suzanne, is because of the fiscal cliff in the united states, the cliched phrase, and the european sovereign debt crisis. >> what if it doesn't happen? what if they reach some sort of deal between the president and congress, don't go over the fiscal cliff? could those numbers change? could it be a better economic picture all around? >> yes, absolutely. because a lot of what's factored into the forecasts, not so much with the cliff but...
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Nov 15, 2012
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cliff, which is important, but when you talk about the global economy, europe is critical, right? it's the biggest consumer of u.s. goods. he weighed in on that and his answer surprised me. take a listen. >> do you think that the euro zone will survive this, warren? >> i don't know. they have to -- they have to work out something where they coordinate. they either get closer together or further apart. the president's system is unstable, and they've seen that instability manifested, but europe isn't going to go away. i mean, they will be a huge market. they'll be producing lots of things. >> the euro zone may not make it through this. >> it's hard to tell exactly how it comes out. >> wow. i think to hear him say it's hard to tell whether the euro zone makes it through is pretty telling, so there are a lot of questions about europe, absolutely. >> it sounds a little alarming, but, you know, i guess there are nuances to it as well. he talked about the fiscal cliff. >> he did. >> this is somebody who has been very, very important to president obama, even before he became president. wh
cliff, which is important, but when you talk about the global economy, europe is critical, right? it's the biggest consumer of u.s. goods. he weighed in on that and his answer surprised me. take a listen. >> do you think that the euro zone will survive this, warren? >> i don't know. they have to -- they have to work out something where they coordinate. they either get closer together or further apart. the president's system is unstable, and they've seen that instability manifested,...